Economic Policies

Report: Saudi Arabia Considers Dumping Dollars for Yuan for Chinese Oil Sales

Report: Saudi Arabia Considers Dumping Dollars for Yuan for Chinese Oil Sales
Chinese 100 yuan notes and one U.S. dollar notes in Beijing on Jan. 6, 2017. Fred Dufour/AFP via Getty Images
Andrew Moran
|Updated:
Saudi Arabia is considering a plan to accept the Chinese yuan instead of U.S. dollars to settle crude oil sales to Beijing, The Wall Street Journal reported.

The Kingdom is reportedly in active discussions with China to price at least a portion of its oil sales to the world’s second-largest economy in yuan.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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